Home and business owners across the UK earned more than £2million in 2015 by renting out their unused parking spaces with YourParkingSpace.co.uk. The online parking marketplace is reminding home and business owners the huge benefit that their unused spaces could have on their finances in 2016.

Its customers, both private and commercial, rent out a variety of parking spaces through the site including driveways, private off-street parking spaces, lock-up garages and spaces from commercial car park operators. With household finances continuing to be squeezed, renting out unused parking spaces could be a great way to earn extra, regular income.

Michael Watson rents out his parking space at his home in West London for £120 per month. “I’d heard through friends the concept of people renting out their unused parking spaces. I was initially a little concerned that others in the building complex would take issue but with YourParkingSpace I have found an excellent, regular tenant for the space. It also prevents the space being used by drivers who shouldn’t be parking there.”

Joan Pryce, from Fareham, near Portsmouth, rents out a garage parking space for £60 per month. “I first discovered the idea of renting out my parking space by looking online. The space and income is fully managed by YourParkingSpace and there’s been no issues as my rental client has been very good. I spend the extra income on household bills, not very exciting but extremely helpful living on a pension and it stops my husband hoarding in the garage!”

Those who live near high profile event and sports venues could benefit the most from YourParkingSpace. Joy Farrukh lives close to Wembley Stadium and rents out nine spaces across her two driveways, earning £15 per day for each space when events are taking place.

“My brother introduced me to the idea of renting out my drive as he already knew about it and when he realised the size of both my drives and the location of my homes, he put the idea to me”, said Joy.

“I meet and chat with almost all of the drivers because I think it’s important for them to feel a strong element of trust in me knowing that their vehicle is safe and then they are at complete ease as though they’ve parked with me before.”

It’s not just individuals and homeowners benefiting from letting parking space, many businesses are also utilising YourParkingSpace’s services. Bruntwood is a family-owned and run property company that provide office space, serviced and virtual offices, meeting rooms and retail premises to companies with over 100 properties across Manchester, Liverpool, Leeds and Birmingham. YourParkingSpace.co.uk rent out its unused parking inventory across their property portfolio.

Andrew Butterworth, Sales Director at Bruntwood Estates Ltd, said: “Utilising the services from YourParkingSpace is a fantastic way for us to increase revenue from unused sites. The whole process is easy and straightforward and is an excellent way for businesses to generate extra income for their unused parking space. Taking just one of our sites in Manchester, over £30,000 in incremental revenue was generated by YourParkingSpace in 2015.”

Commenting on the amazing sums that its customers earned in 2015, Harrison Woods, managing director of YourParkingSpace.co.uk, said: “It’s great that our customers have earned such significant amounts of money by renting out their unused spaces with us. We hope that even more customers will join our parking revolution in 2016.”